UPDATE: The Money Team Racing, the aspiring NASCAR team co-owned by Floyd Mayweather, is in advanced discussions with Spire Motorsports to form a new partnership that will help pave its entrance into the sport, according to sources.
MT Racing tried to bid on NASCAR charters that came up for sale this year in order to start running in 2021, but wound up getting outbid by Spire for Leavine Family Racing and by Michael Jordan and Denny Hamlin for Germain Racing.
That left the team without a viable path to running full time in 2021, and it has thus worked to instead align with the two-car Spire outfit, which is the growing organization run by the Spire Sports & Entertainment agency that represents drivers and brokers marketing agreements in the sport.
Under the terms of the deal, TMT Racing would co-brand one of Spire’s cars in 2021 before using one of Spire’s three charters in 2022 to run its own full-time entry, sources said. The sides are still finalizing the agreement and have yet to announce or comment on the record on the pact.
ORIGINAL POST 12-23-2020: The Sports Business Journal’s Adam Stern reports that The Money Racing Team is talking to Spire Motorsports about a partnership that would have the team running full-time in 2022.
Spire Motorsports is expanding to two full time teams in 2021.
The Money Racing Team has been mentioned as a possible new Cup team since 2019. Efforts to get off the ground this year were negated by the COVID pandemic.
— Adam Stern (@A_S12) December 23, 2020